The sports betting and gaming industry, as a whole, is on its way to full recovery, and over the last 12 months, in particular, the online segment across Latin America has been thriving.
Entain is contributing to this growth, after becoming the first global sports betting and gaming operator to gain a license in Colombia on December 9, 2020. In an exclusive interview with Yogonet, Martin Lycka, Entain’s SVP for American Regulatory Affairs & Responsible Gambling said that the company was committed to ensuring that said growth be sustainable and responsible, and in line with the company’s strategy to only operate in regulated markets by the end of 2023.
“We are extremely optimistic that Colombia is just the first of many Latin American countries for Entain. Brazil, Chile, Peru, and Bolivia are all currently in the process of regulating – this is a significant opportunity for us, as we are already the number one operator in the market,” Lycka stated. “Brazil is expected to regulate sports betting in 2022, with the latest adoption of a new betting duty law a positive indicator. Then online casino is likely to follow the regulation in 2023. Chile is also expected to progress its online gambling regulation next year – so these two countries will be a major focus for our business, alongside our existing and growing operations in Colombia with our bwin brand.”
He also went on to explain that as soon as Brazil regulates or opens its licensing process the company would begin its application process.
“We’re very fortunate at Entain because a) we are well-positioned to build on this foothold in the market, and b) we can enter new markets quickly because of our proprietary technology and portfolio of leading products. If we are entering a new country, like Brazil, our core platform lets us prepare a new customer-facing offering which is fully compliant with the specific regulations of that market within weeks,” he said.
What are your outlooks, expectations for 2022, and what do you think will be the new challenges, both for the gambling industry and Entain in particular? What will be the main issues driving the agenda?
Just like everywhere else around the world, the key challenge will be to address consumer protection issues, especially responsible gambling as well as responsible video gaming. In the last two years, during the pandemic, the global focus on safer gambling has only magnified, as consumer habits have evolved, and the industry has continued to invest in digitization.
Responsible gambling and responsible video gaming are critically important to the success of any regulated market. And put simply, ensuring the highest possible levels of player safety and protection is the best way of guaranteeing long-term success. Entain’s in a pole position to do that, including prospectively in our new markets. Latin American countries currently in the process of regulating can, and should, learn lessons from other regulated jurisdictions, including – most recently – the US, and Ontario in Canada, to ensure responsible gambling and responsible video gaming remain at the forefront.
